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Equity is the difference between the market value of your home and the amount you owe the lender who holds the mortgage. Your equity is the money you’d receive after paying off the mortgage if you were to sell the home.
An equity sale is quite simply a standard sale in which the seller has equity, or money in the home. Equity sales are the old fashioned sale where the seller has earned money by staying in the home and doesn’t need the assistance of a bank in order to sell. The homeowner liquidates their asset through the sale and uses the proceeds as they wish.
An equity sale can be an important step to securing assets for future use depending on where the market is headed.